Compare and Calculate

Bank Account Closed? 5 Things You Must Do Next

Maintaining a separate savings account at an online bank can act as an emergency buffer if your checking account is closed.

Having your bank unexpectedly close your account could result in late payments for bills that are linked to your account and could potentially make it more difficult to get a new account somewhere else.

MyBankTracker looks at why banks close customer accounts and what to do if it happens to you.

Establishing a good relationship with your bank is important but if you’re not careful, you could cause it to sour.

Repeatedly bouncing checks, letting your account lie dormant for an extended period of time or engaging in activities that are deemed suspicious are all reasons that your bank could decide to break up with you.

An account closure is inconvenient to say the least and it has the potential to impact your ability to get a new account with a different bank.

If you’ve gotten a Dear John letter from your bank, taking steps to minimize the damage can make it easier to move your money to another financial institution.

Rebecca is a writer for MyBankTracker.com. She is an expert in consumer banking products, saving and money psychology. She has contributed to numerous online outlets, including U.S. News & World Report, and more.

Ask a Question

Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available.

Editorial Disclosure: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

User Generated Content Disclosure: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure:

Many of the savings offers and credit cards appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts and credit cards available. Credit score ranges are provided as guidelines only and approval is not guaranteed.